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Unaudited Condensed Consolidated Balance Sheet

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Unaudited Condensed Consolidated Balance Sheet QUARTERLY REPORT On the consolidated results for the first quarter ended 30 September 2020 The Directors are pleased to announce the following: Unaudited Condensed Consolidated Statement of Profit or Loss Amounts in RM million unless otherwise stated Quarter ended 30 September % Note 2020 2019 +/(-) Revenue A7 10,877 9,476 14.8 Operating expenses (10,534) (9,109) Other operating income 67 27 Other gains and losses 16 (11) Operating profit 426 383 11.2 Share of results of joint ventures 16 11 Share of results of associates 5 (14) Profit before interest and tax A7 447 380 17.6 Finance income 12 11 Finance costs (33) (39) Profit before tax B5 426 352 21.0 Taxation B6 (120) (93) Profit for the period 306 259 18.1 Attributable to owners of: - the Company 281 246 14.2 - non-controlling interests 25 13 Profit for the period 306 259 18.1 Sen Sen Basic earnings per share attributable to owners of the Company B12 4.1 3.6 13.9 The unaudited Condensed Consolidated Statement of Profit or Loss should be read in conjunction with the accompanying explanatory notes and the audited financial statements for the financial year ended 30 June 2020. SIME DARBY BERHAD (Company No: 200601032645 (752404-U)) Unaudited Condensed Consolidated Statement of Comprehensive Income Amounts in RM million unless otherwise stated Quarter ended 30 September 2020 2019 Profit for the period 306 259 Other comprehensive income/(loss): Items that will be reclassified subsequently to profit or loss: Currency translation differences (13) (208) Share of other comprehensive loss of joint ventures and associates (7) (17) Net changes in fair value of cash flow hedges 5 2 Tax expense (1) – (16) (223) Reclassification of foreign currency translation differences on repayment of net investment to profit or loss (10) 4 Reclassification of changes in fair value of cash flow hedges to profit or loss and inventories (2) (9) Tax credit – 3 (28) (225) Items that will not be reclassified subsequently to profit or loss: Share of actuarial gain on defined benefit pension plans of a joint venture 2 1 Total other comprehensive loss (26) (224) Total comprehensive income for the period 280 35 Attributable to owners of: - the Company 257 29 - non-controlling interests 23 6 Total comprehensive income for the period 280 35 The unaudited Condensed Consolidated Statement of Comprehensive Income should be read in conjunction with the accompanying explanatory notes and the audited financial statements for the financial year ended 30 June 2020. 2 SIME DARBY BERHAD (Company No: 200601032645 (752404-U)) Unaudited Condensed Consolidated Statement of Financial Position Amounts in RM million unless otherwise stated Unaudited Audited As at As at Note 30 September 2020 30 June 2020 Non-current assets Property, plant and equipment 6,041 6,010 Right-of-use assets 2,394 2,395 Investment properties 294 296 Intangible assets 1,589 1,596 Joint ventures and associates 1,338 1,344 Financial assets at fair value through profit or loss 22 22 Deferred tax assets 568 613 Tax recoverable 45 46 Receivables and other assets 225 230 12,516 12,552 Current assets Inventories 7,414 8,346 Receivables, contract assets and other assets 4,150 4,096 Prepayments 796 423 Tax recoverable 59 56 Derivative assets B9(a) 3 3 Bank balances, deposits and cash 2,080 1,694 14,502 14,618 Assets held for sale 1 103 Total assets 27,019 27,273 Equity Share capital 9,300 9,300 Reserves 5,414 5,697 Attributable to owners of the Company 14,714 14,997 Non-controlling interests 434 416 Total equity 15,148 15,413 Non -current liabilities Borrowings B8 105 110 Lease liabilities 1,483 1,438 Payables, contract liabilities and other liabilities 179 168 Government grants 153 153 Provisions 23 22 Deferred tax liabilities 301 331 2,244 2,222 Current liabilities Borrowings B8 1,399 2,121 Lease liabilities 375 376 Derivative liabilities B9(a) 7 6 Payables and other liabilities 4,685 4,317 Contract liabilities 1,929 2,128 Provisions 415 417 Tax payable 273 273 Dividend payable 544 – 9,627 9,638 Total liabilities 11,871 11,860 Total equity and liabilities 27,019 27,273 Net assets per share attributable to owners of the Company (RM) 2.16 2.21 The unaudited Condensed Consolidated Statement of Financial Position should be read in conjunction with the accompanying explanatory notes and the audited financial statements for the financial year ended 30 June 2020. 3 SIME DARBY BERHAD (Company No: 200601032645 (752404-U)) Unaudited Condensed Consolidated Statement of Changes in Equity Amounts in RM million unless otherwise stated Attributable Share to owners Non- Share grant Capital Legal Hedging Exchange Retained of the controlling Total capital reserve reserve reserve reserve reserve profits Reserves Company interests equity Quarter ended 30 September 2020 At 1 July 2020 9,300 15 233 111 3 178 5,157 5,697 14,997 416 15,413 Total comprehensive income/(loss) for the period – – – – 3 (29) 283 257 257 23 280 Dividends paid – – – – – – – – – (5) (5) Dividends payable – – – – – – (544) (544) (544) – (544) Performance-based employee share scheme – 4 – – – – – 4 4 – 4 Transfer between reserves – – – 1 – – (1) – – – – At 30 September 2020 9,300 19 233 112 6 149 4,895 5,414 14,714 434 15,148 4 SIME DARBY BERHAD (Company No: 200601032645 (752404-U)) Unaudited Condensed Consolidated Statement of Changes in Equity Amounts in RM million unless otherwise stated Attributable Share to owners Non- Share grant Capital Legal Hedging Exchange Retained of the controlling Total capital reserve reserve reserve reserve reserve profits Reserves Company interests equity Quarter ended 30 September 2019 At 1 July 2019 9,299 6 231 99 (6) 50 5,034 5,414 14,713 405 15,118 Total comprehensive income/(loss) for the period – – – – (4) (214) 247 29 29 6 35 Dividends paid – – – – – – – – – (6) (6) Dividends payable – – – – – – (544) (544) (544) – (544) Acquisition of non-wholly owned subsidiary – – – – – – – – – 4 4 Performance-based employee share scheme – 3 – – – – – 3 3 – 3 At 30 September 2019 9,299 9 231 99 (10) (164) 4,737 4,902 14,201 409 14,610 Unaudited Condensed Consolidated Statement of Changes in Equity should be read in conjunction with the accompanying explanatory notes and the audited financial statements for the financial year ended 30 June 2020. 5 SIME DARBY BERHAD (Company No: 200601032645 (752404-U)) Unaudited Condensed Consolidated Statement of Cash Flows Amounts in RM million unless otherwise stated Quarter ended 30 September Note 2020 2019 Cash flow from operating activities Profit for the period 306 259 Adjustments for: Share of results of joint ventures and associates (21) 3 Finance income (12) (11) Finance costs 33 39 Taxation 120 93 Net gain on disposal of assets (2) (1) Depreciation and amortisation 294 235 (Reversal of impairment)/impairment of receivables (net) (2) 3 Inventory writedown and provision (net) 28 61 Fair value loss on financial assets at fair value 1 4 Other non-cash items (17) 14 728 699 Changes in working capital: Inventories 1,049 (149) Rental assets (200) (182) Trade, other receivables and prepayments (485) (151) Trade, other payables and provisions 192 (186) Cash generated from operations 1,284 31 Tax paid (111) (34) Dividends received from associates and joint ventures 98 3 Net cash flow from operating activities 1,271 – Cash flow from investing activities Finance income received 7 7 Purchase of property, plant and equipment and intangible assets (112) (137) Acquisition of subsidiaries – (526) Acquisition of businesses (19) (16) Subscription of shares in a joint venture and an associate (1) (2) Addition to financial assets at fair value through profit or loss (1) (5) Proceeds from disposal of property, plant and equipment 127 11 Capital repayment by an associate – 20 Net cash from/(used in) investing activities 1 (648) 6 SIME DARBY BERHAD (Company No: 200601032645 (752404-U)) Unaudited Condensed Consolidated Statement of Cash Flows (continued) Amounts in RM million unless otherwise stated Quarter ended 30 September Note 2020 2019 Cash flow from financing activities Finance costs paid (12) (27) Net borrowings (repaid)/raised (712) 1,036 Repayment of lease liabilities (119) (97) Dividends paid to non-controlling interests1 (15) (6) Net cash (used in)/from financing activities (858) 906 Net increase in cash and cash equivalents 414 258 Foreign exchange differences (15) (15) Cash and cash equivalents at beginning of the period 1,650 1,629 Cash and cash equivalents at end of the period 2,049 1,872 For the purpose of the Statement of Cash Flows, cash and cash equivalents comprised the following: Bank balances, deposits and cash 2,080 1,949 Less: Bank overdrafts B8 (31) (77) 2,049 1,872 1 Dividends paid to other shareholders of non-wholly owned subsidiaries. The amount for the current quarter includes RM10 million declared in the previous financial year. The unaudited Condensed Consolidated Statement of Cash Flows should be read in conjunction with the accompanying explanatory notes and the audited financial statements for the financial year ended 30 June 2020. 7 SIME DARBY BERHAD (Company No: 200601032645 (752404-U)) Explanatory Notes on the Quarterly Report – 30 September 2020 Amounts in RM million unless otherwise stated EXPLANATORY NOTES This interim financial report is prepared in accordance with the requirements of paragraph 9.22 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad and complies with the requirements of the Malaysian Financial Reporting Standard (“MFRS”) 134 – Interim Financial Reporting and other MFRS issued by the Malaysian Accounting Standards Board (“MASB”). The interim financial report is unaudited and should be read in conjunction with the Group’s audited annual financial statements for the financial year ended 30 June 2020.
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